hello i'm daryn jordan and over the top stories on al-jazeera begin with breaking news from the republic of congo where the leading opposition candidate in sunday's presidential election has died. was big transferred to france for treatment for a corona virus infection after being diagnosed on friday he was the main challenger to veteran leader dennis. communists with $61.00 senior diplomat some canada and the us upturned up outside a chinese court to condemn a secret trial of a canadian citizen canada's been denied access to michael coverage was arrested 2 years ago at a spying charges you know you as this from beijing and canada has been hugely

critical as we've just heard of the way these 2 men have had their cases handled here in china they said there's been a huge lack of transparency china has been very opaque because they've said that these are national security cases they've been also given a very dubious access that canadian government say to chinese lawyers in the case is not particularly concerning because here in china the courts are run by the communist party and in criminal cases 99 percent of them off found guilty australia's government does all that emergency evacuations along its east coast after the worst flooding in decades and natural disaster has now been declared in some regions the torah gates and the reports. days of unrelenting rain have left parts of australia's most populous state new south wales underwater homes ruined and lives destroyed. trees coming down the property damage caused.

by the rain trees so yes it's been time for. at least 40 flood warnings are in place and tens of thousands of people have been ordered to leave their homes and those move on the way this potentially is a very dangerous situation that everyone needs to understand the magnitude gravity of what could become over the coming $2440.00 i doubt the bureau is not giving us cried advice around the potential right for what is coming and that's obviously very perplexing considering that all the catchments are psyched at the moment it's a year since unprecedented bushfires burned across this region they followed a prolonged drought that led to sydney introducing water restrictions now record rainfall is causing chaos the premier of new south wales says the state is experiencing a one in 100 year disaster. i just want to say to everybody across the state who

is currently living in fear and anxiety that all of us are thinking of you some communities who were battered by the bush was and now being battered by the floods and date drought prachi that and i don't know any time an ass state's history when we've had these extreme weather conditions in such quick succession in the middle of a pandemic and with weather experts predicting more rain for much of this week many people say they feel they're at breaking point victoria. japan has lifted a state of emergency in tokyo as pressure mounts to bring the coronavirus pandemic under control ahead of july's olympic games under measures imposed in january bars and restaurants of inclosing at 8 o'clock at night while many other businesses have switched to remote working but with infections creeping up experts are warning against complacency. brazil's president has renewed his attacks on pandemic restrictions imposed by state and municipal governments. tomorrow told supporters

he would fight for their freedom he's repeatedly pushed against lock down measures in favor of the economy despite a devastating 2nd wave of infections. government of killed at least $22.00 civilians in southwestern asia it happened in the tele barre region which borders mali and the. 58 villages were killed in the same region last week and u.s. president joe biden says he will be heading to the mexican border soon as the government struggles to manage a surge in undocumented migrants nearly 20000 adults and more than $9000.00 unaccompanied minors are estimated to have crossed the border last month it's a major increase on january so those are the headlines these continues here now jazeera after death machines.

debt it drives markets creates profits and generates an endless cycle of production and consumption. we live on credit our homes cars schools and government expenditures are financed by borrowing. data has become the engine of our growth the lifeblood of our global economy. it's an economic machine impacting the global economy with more and more date being produced day in and day out. this debt machine has grown to epic proportions and now seems to have spiraled out of control public debt the debt held by governments is soaring. the eurozone is

having a much harder time than other economies emerging from the crisis of spiraling debt why and what are the solutions. to debt machine once you're on it very hard to get off let's see if i must use them to look good. but on that let's start over and create a system of credit which would actually be sustainable which wouldn't destroy the planet as the current debt machine has to write. to me as you know i know but i just can that can exist to be solemn duty do test them come on the going to meet the debt like. second. impose paramedics on it a producer live where problem sick over to that somebody to say that you are then you. the power and i deny me. said that

then you and any. when it's debt reaches a certain level the government gets caught in a spiral to repay its debt and the interest on it the government has to borrow more money year after year. most eurozone countries are now in that situation they borrow heavily on the financial markets and from large private banks that fight fiercely to keep them as clients. banks love to make loans to sovereigns why because behind the sovereign are millions of taxpayers and they're not like the shoppers or it's not like the consumers in a business because those tax payers never go away there's a new one born every single day and they're going to pay taxes for the next 150 years unless the country collapses so why wouldn't you lend to them because you

know you're going to get your money back you know there's no bankruptcy law you know that you can always make a profit on it's safe lending whereas if i go to a firm that wants to innovate and produce a new asset you know firm that maybe once it is decided they want to build steam engines and 1700 or something i don't have to risk assess the risk. well that's too risky why should i invest in that why don't i lend to the government of spain or to the government of italy or to government of portugal i know there are a german taxpayers there a french taxpayers there all of whom are effectively backing up this debt so i don't fear of taking risks. government data has soared into the trillions of dollars in euro zone countries but those figures don't really mean much if you don't compare them to the wealth of a country its gross domestic product g.d.p. . the country's debt is measured as a percentage of g.d.p.

here debt represents 50 percent and here 100 percent of g.d.p. . 1992 maastricht treaty laid down the terms for an integrated europe. in order to keep debt from getting out of control experts agree that a country's debt should not exceed 60 percent of its g.d.p. but that critical threshold has been largely exceeded by most european countries joins us from get us what he can ask about it some more now we know you're pretty up with the beauty of rio might have a pretty rigid there. when debt exceeds a certain level tax revenues start going up to pay interest on the debt instead of funding government expenses hospitals schools teaches. how can that

data be repaid how can we ever get out of the spiral. if you were to move on but in that as you know i guess you're yet divvy or most of a dead cvs everybody's wired. wrong he was up i think they said jack of which i don't know but of whatever that sean hoare and his exam proof are saying of all of us says that they did to contact the value of what horse knows i mean it on bossy when i drove spore years to q if there is talk of property to go to bourke it physically but little to create their battle. to get you up at a. date has always existed it dates back to the origins of civilisation it even predates the invention of money.

the very earliest mesopotamian scriptures that we have are actually debts and products calculating who is what to whom when temples and other large bureaucratic systems. so what you have actually are credit systems and in mesopotamia they don't have. private data has always existed but government data 1st emerged in italy in the major trading cities during the late middle ages. florence jenner and venice were constantly at war which cost them dearly. pay for those sovereigns borrowed from prominent family 1st government bonds were traded paying into. those prominence creditor families founded the 1st italian banks that started lending a lot of money to european markets who were caught up in endless wars. most often

the bankers were worried by the warlike rule is an easy way of getting rid of debt one that would be used for centuries. at the time governments had power over creditors only much later would that balance of power be reversed. after the 2nd world war in 1945 america's marshall plan granted $13000000000.00 u.s. dollars in aid to europe's industrialized countries exceptional growth followed and the 30 years after the war were good so good that they were known as the economic miracle in germany and the glorious 30 and france business was brisk industry was

in full swing and the growth of consumption was spectacular. the polytunnel use it on go has basically put a deposit there but. i'm certificate you molly moved to a bill to slug seal bianco so much i mean. if we wanted the offical value of goes to show it would really phenomenal in bungay us you did was it i wanted but he was i was phenomenal cause it's all in there on time the b.b. was an image will be a few miles in iraq good will be vivid. in croissants. by the end of the post-war boom in the early 1970 s. government debt in europe was a great cordless thanks to growth and inflation but the economic machine would soon

be upset by 2 major events. good evening on august 15th 1971 richard nixon the president of the united states his coffers had been emptied of a gold reserves by the vietnam war announced a staggering measure that would drastically change the world economy. would have been the dollar against the speculative. i directed secretary connally to suspend temporarily the combat ability of the dollar into gold or other reserve assets except in amounts and conditions determined to be in the interest of monetarist ability and in the best interest of the united states. but it was not a temporary measure at all the u.s. president definitively kept the fixed relationship between the dollar and gold. the

donor became a floating currency like every other currency of around the world. all the currencies of the world that were either tied to the u.s. dollar of the british pound by 1971 we're now pure fee at currencies they're not backed by anything they're just backed by the confidence that people have in those currencies. abandonment of the gold standard cleared the way for significant currency market speculation. the free circulation of capital on international markets intensified it was the beginning of a period of great financial instability. yet. 2 years later in 1973 another major event occurred the 1st oil crisis. in one year the price of crude oil soared

going from $2.00 to $6.00 about my. normal necessity to be going to meet. the dude you could be carter or to dinner some counseling to do sources on this subject don't include the absolute perfect the minute you go to miter and say look democracy it would set up of financials for him and no one knows them and that their knowledge will not suddenly produce be color blue. comedy block long and pretty easy but exactly monem shoes put it to. a sudden increase in the price of oil weighed heavily on the world economy. they put the brakes on growth. production costs went up prices went up to. inflation is skyrocketing. high inflation has a major drawback it impoverishes savers and investors since their money depreciates

. for government inflation became a new enemy to be defeated at all cost. to remove all kernels on threshold brutha ever saw at all those are the 5 always ill there is just no yeah follow easy late last of all this no see you for valley going to me community really classy going to the on to the south you cause i said i used to ask let's see if you don't call me a serial if what i was eagleman and gone by gar on credit during the debate you feel silly it put you to such an icon by the convo oppa like you the idea other friends your mature the money for today are see. but bill addicted to the kills you simply did before are welcomed on it can go use it it is on point only

because if there are so ment or not a currency for or is it an economy to defeat it on a cyclical season was when in a good to make it up it will moan it it is on was under the economy all i wanted to fault was this additional lies of trying to buy them for that so the value is too good i did continue pretty good continue. but nobody but. i don't know not honestly yelling. that he knows. how. to put it that it be weeks on a back to the hard basket will be the kimosabe on the day. if you didn't know but starting in the 1980 s. the industrialized countries began to borrow heavily on the international market after which their public debt would never stop increasing.

margaret thatcher became prime minister in the u.k. and ronald reagan president and the united states it was the advent of neo liberalism and economic doctrine that also spread throughout europe. governments everywhere were lowering taxes privatizing public assets these would be the years of easy money. stock markets expanded wall street in new york the city in london. on both sides of the atlantic governments deregulated bank credit unchecked capital flows moved through markets worldwide. by deregulating and liberalizing those governments became dependent on financial markets which by then were an inescapable part of the economic system. the debt machine was taking shape nearly everyone went into debt governments

businesses and individuals. the economic system had turned into a machine for creating debt. and the banks got rich on the interest paid by borrows . credits became the primary fuel for growth but how does created work. banks possess only a small amount of the money they lend money is created by private banks on a simple request for credit and a promise of repayment. the sum is raised as soon as the loan is repaid that is a huge thing and it's. how we've always created money from the beginning and it's a wonderful thing if you have a banking system that can create credit like that is a very good thing. because it means you can create finance in a crisis you can bail out a id you could finance climate change you could you can finance

a war and that's how we've always done this the public hasn't understood that the public thinks that money comes from me working hard if you know for as you know during the soil working hard and at the end of the month i am money we are all wrong the bali bomb fits so the right that a 1000000 people or so the renewable if a lot of them become left on his deal he's going to bury the view will. be devoid of the 1000000000 people really i believe it lives at the moment for me to do the players do know board a little last rock it did the new york city lit up like there's some of it there a whole lot of a new deal clay about it belongs to a body present on the go on piece also to no dollars and cents on this persona for example if there is another one in detail and it's only going to make

a lovely pop he's good to put to the public document utility economy manassas on if you know he's going to tell you going to the central bank produce 5 percent of the credit in the world the private banks produce or create art of the net 95 percent of the credit in the world and they have no virtually no regulation over that now what kay has argued in the 1930 s. was we must manage this process it can create vast bubbles of debt it can go out of control. the 929 wall street crash in the united states prompted the british economist john maynard keynes to warn politicians. that machine needs to be controlled to benefit all of society not just speculators. when we managed the financial system between 19051971 there was not

a single financial crisis anywhere in the world and then in 1971 the bank has lobbied and they said no no no we don't need controls you know the market will discipline us we will blah blah blah and we began to lift all these regulations and crises began one after the other 1st to the periphery and then in a cool. 1909 saw the birth of the euro and the european central bank had been created to ensure its stability. at the time global growth was strong the level of public debt was starting to decline europe was breathing easy. confident financial markets lent generously to governments and the weakest

economies spain greece italy portugal suddenly had access to loans at very low interest rates close to those available to germany. that low cost financial windfall was an economic boost all was well. meanwhile in the united states america's housing bubble was expanding and in 2007 the subprime crisis struck thousands of homeowners lost their homes they had taken out loans with interest rates that rose sharply and they found themselves unable to

make their mortgage payments. many banks were in danger. on september 15th 2008 lehman brothers one of the largest u.s. investment banks collapsed like is that iran was our supply. of filaments because it is serving much bigger to misunderstand the bonzi. so that your couscous a pricey i've honestly didn't want was there to give you the presumption to be wrong don't join the focus is them continue are quite. effective now on to be a humble city debt good get rid of prison prove the currency get on play is good is going to hockey live for it can be done you can't use fondly danica insisted it is surprise to us that in a while there was john ok bob almost on his own may only have it the coming every other day on his own develop of well put on your model of all illnesses. ok about

yours on our russian the bronze is equal is commercial i took up so i did a fade to disagree go on to just what is on its agenda that the early months of. after the fall of lehman brothers european banks with close links to american banks risked bankruptcy in 10. governments only just managed to save them in order to avoid the collapse of the whole system. no one in office secretaries you want to switch on that are keeping your bank to god you have to prove they were blocked it is actually take you on to the proof your priest guess who has you know if. bridges $300.00 preform food new proven food name prison guards in prison going to prison on a system fragile if for. and

in ireland after the advent of the euro and thanks to loans from german french and british private banks developers invested heavily in real estate. in a big don't need to back order to de-code media differently and respond to say or both back to on you can on. their nose morgan old labour's one speak you live. in gabby douglas the shift in new york on the one dot. com loudly grandma you guardedly booklet victimized and order the book. in the battle are. it in blue sybil. ski said cadre back the best course to. see if lisita. i want to go and finish law to support

the so-called little sector if you know. the more you can audit the. attic how to play panicked. if you don't know if you also can face of course if he did indeed p.v. if he wanted you what do you think you can often do not get people. mixing the traditional with the money. ignoring cost of i guess the only thing which united there was the music group music to this big wheel thing the power of music to turn up the volume on india's social injustices when i saw the performance i was like wow and shake things out on stage. witness kostis collective on al-jazeera. a footballer. and

a pioneer for a sport he lost the chance to play for his country one a legal battle that paved the way for a generation of brazilian players footballing legend eric cantona introduces one scene of female life by his club for his political beliefs he took power into his own hands and blazed the trail for players rights. on algis even getting close to the people most affected by those in power is often dangerous but it's absolutely for the stories to be told about success so i did this area with posters fall for this weekend to the frontline now the smell of day is overpowering a lot of the stories that we cover all high the conflicts so it's very important that we make them is on the stand up well as we can do as many people as possible no matter how much they know about a given crisis or issue as al-jazeera correspondents that's what we strive to.

hello i'm down in jordan doha with the top stories on al-jazeera some breaking news from the republic of congo the leading opposition candidate in sunday's presidential election has died the breeze particular lists was being transferred to france for treatment for a corona virus infection after being diagnosed on friday he was the main challenger to the veteran leader dentists' so clueless was $61.00. senior diplomats from canada and the u.s. have turned up outside a chinese court to condemn the secret trial of a canadian citizen canada's been denied access to michael coverage was arrested 2 years ago on spying charges but you know you has more from beijing and canada has

been hugely critical as we've just heard of the way these 2 men have had their cases handled here in china they said there's been a huge lack of transparency china has been very opaque because they've said that these are national security cases they've been also given a very dubious access that canadian governments say to chinese lawyers in their cases not just particularly concerning because here in china the courts are run by the communist party and in criminal cases 99 percent of them are found guilty australia's government so that emergency evacuations along its east coast after the worst flooding in decades waters continuing to rise across most parts of new south wales a natural disaster has been declared in some regions. japan has lifted a state of emergency in tokyo as pressure mounts to bring the pandemic under control ahead of june's olympic games and the measures imposed in january bars and restaurants then closing at 8 o'clock while many of the businesses of switch to remote working experts are warning against complacency. brazil's president has

renewed his attacks on pandemic restrictions imposed by state governments. told supporters he would fight for their freedom he's repeatedly pushed against lockdown measures in favor of the economy gunman have killed at least $22.00 civilians in southwest happened in the tilbury region which borders mali and bikini. and u.s. president joe biden says he'll be heading to the mexican border soon as the government struggles to manage and documented migrants nearly 20000 adults and more than 9000 unaccompanied minors are estimated to have crossed the border last month a major increase on january 1st. so those are the headlines the news continues here on al-jazeera after that machine station thanks for watching. 2008 financial crisis threaten to disrupt the global financial system governments

made the choice to big banks and to rescue troubled economies. to get home. see. a modern economy. do freely. anybody feel see if you feel the pity and ample to keep do boxed up just to save a good boxed up old son who are both a lost good son of a proof. school the best little don't sit back as you know x. how they never ask appears again faster want to be a baby to me that. she's

be a. little bit or you could see people a communal. busk you call it a says do p.c. signals c c c that it will be real label q.q. pretty. lawyer because if you do you see if you can roll a new valve function and will close the donkey populace you couldn't. if governments had to bail out the banks it was because they could not be allowed to fail since those banks are us they are the accounts of millions of citizens we are caught in the debt machine. the economic crisis and the government bailouts of the banks led to a spectacular increase in public debt in iraq the debt machine spiraled out of

control. the 1st country to declare bankruptcy was greece in november 2009 the newly elected prime minister george papandreou revealed the real figures that had been hidden by the previous governments greek public debt had reached 129 percent of g.d.p. well above the 60 percent threshold set by the master treaty. he asked for help from europe. now you do some a good to see most of the dead mice in a room. in n. it will be easy to make and is most images. in reason. that announcement was like a bolt of lightning striking. the german chancellor weighed in on the question

didn't. went down did they all 3 did suck on an almost all. of those i was on trial in this field division one for someone who does the of idiots who can't and for tots not the common theme is a not with the mothers of a movie as i loved all of them all along with their lives even being online for the seek him out in love you don't he's never done most commonly used to one another. in 1902 the master treaty set out the terms for e.u. integration it forbade the european central bank from bailing out indebted countries would european governments respect these terms with a guaranteed leases debt should part of it be restructured or cancelled or should they help greece pay its creditors the heads of state could not reach an agreement as europe hesitated and markets speculated on the greek debt of confidence collapse

the fear was that if greece restructured its debt might the markets pull back from spain from italy from la belle frost and might not europe bring upon itself the catastrophe that it so wish to avoid and therefore the argument was it is far better to give greece all the money it needs to repay its indebted notes then to run the risk that the market would perceive a sovereign restructuring in europe. as. is infectious as contagious . only after 6 long months of crisis europe finally decide its bite resistance from germany to lend greece enough to pay its creditors. a small on up whenever it has you broke

a new look go up we'll sit there and you can see like i said we batted a lot less 1000 overpass unclear cement in his eye fell on i could problem in europe i would eclipse drop it off because it you know put it in a buy you comment unless it be your bell on this you did with this looking as you know we don't listen as we know it would dislocate that it is that accurate last year in a pretty hot baggy accountable me you know number one our own table top us cool you want. to do would if you had immediately. said brought it out i guess off it gets closer so this it up or keep the soup's the attic yasi privy to. as you say if you ask about it not one euro debt has been written down in these years what has changed is the identity

of the creditor so money was owed to bondholders in 2010 it's now into the i.m.f. in the e.u. . if you can solve a debt crisis simply by changing the identity of the creditor and this one is solved. being in debt isn't only about owing money it's also about being in the wrong there is the financial data but also a psychological debt that weighs just as heavily on the inhabitants of the indebted country. debt and. kind of double jeopardy. or did you it by sake of insult to decrease your. oh not days to finish job us. says if one day i want to keep ability economy.

just because i happen to live in greece somehow i'm a sinner i'm a bad person because of some political acts done by political representatives of one kind or another. therefore it's ok for people to have their lives destroyed it's ok for people to have to pick through garbage and not have anything to eat it's ok for cancer patients to be denied medicine if we're ever going to have morality in the world we need to absolutely reject that logic if there's individuals responsible hold them responsible but don't hold a college to very responsible for the deeds of. to resolve the greek debt crisis the e.u. granted financial assistance in exchange it imposed a draconian austerity program the country was placed under stewardship and lost

part of its sovereignty it was placed under surveillance by the troika the 3 delegates of the european commission the european central bank and the international monetary fund. other over indebted countries in the euro zone will be controlled by the troika in turn and subjected to similar was 3890. 1. the sound of those protests reached all the way to brussels the troika had become a thorn so much so that the european parliament held a special session about the troika exactions national and european m.p.'s questioned european leaders use us they cannot be many ups you may be years. to

program others will be violent as the lover but all of that other stuff we give a shit that asked them oh yeah they're going to guess i'm sure there's the degrees . yet if we asked again i've got this theory said the bestseller throwing young of the troika still a lover there may. be more p.c. care for. yet the method. valid only mazzy we have here pundits who stop probably my 2 heroes here to promote the cause then i want to go to. parliament in portuguese asian parliament in spanish in parliament in evolution parliament even it's not so and above i don't want to go for one model and democratic surely you too much your own guns need. the program a d.v.r. . and all of the guns under fire go. up that's a decent program in courts with the language the valan.

that's a lot i am absolutely confident sure that if greek did not implement the program the situation will be much worse today i am convinced of that you have these experiences that try to put on sense no we cease to sense what. it means look stuff up reasons that us yes could put a limit is. used today if you have someone who really is the. gov contrails. single you not only that you die if there's a god but if area nor sumanda nor so you go mia you'll go by the north of iraq but it up to predict which of.

you is a disappointment the austerity programs were poorly implemented and poorly explained people came to resent you would start to look like an uncompassionate taskmaster all over the continent there was increasing support for nationalist parties anti finance and euro skeptic parties were gaining ground in america if you have been willing to do their own of their own for all be happy. if they are gone and liberate europe from the monster of brussels new long and who meant we should and. we can see reaction to the liberalization of fright finance just as we saw it in the 1920 s. and it's going to be ugly it will ready is ugly it's ugly in greece it's ugly in france it's ugly you know in many parts of the world where people are saying if my

government went look after my interests if my government will not arrange for my young people to have employment then i will look for a strong man who will do that for me who will give me security and give my children employment security and i don't care what sort of strong manatees if he's a fascist i don't care if he promises to secure the stability of my life and my people i will vote for him i think that's where we're heading and i don't think our leaders have the vision to understand that's the threat that we face. what are the solutions have. curd europe curve the debt machine what mechanisms canada uses. could it play on inflation as other countries do. little as you know jamie almost you know that germany are probably almost all that someone always has room on the for want of us here at a investor that are used for me said without it don't go best is cool with it we

obviously they saw it would you. call me said and i'm sure adora do now at the base here. should i get your misandry programs likely to make a fortune if i pass coffee yet as you know that our book a minute then i guess that your duty as it were to charge poor of alberta for the number 2 place and a capacity you know the horses that it. following world war 2 french and german debt was $2.00 to $3.00 times higher than it is today but inflation literally absorbed it. only but the don't want a little girl openly party job. due system. until this is all that it is just in them and they could be. eliminated week on was when your lawyers who know.

about don't know the war but when they come on the 1st the 1st i want to know is that would. you put on more do so legally ma. this is your strawman 20 seconds from polluting. your dogs in this case madonna hardware on that origin mark so experts here know we homeschool soft. on this big committee politicked are in league and in order to understand we don't need. needed someone so on the server i'm sure and so into naman i meant to have streets to sign with and how to organize dusty s. bahn is again mention of going to his gate sint does and in via touch on the archaea guilt ridden oil by the mouse in riyadh there must be mention are i'm just going to cover the politics and mention on some. of the banks named

to see the hologram and emerald number. less a closer look at the euro money. the strong euro benefits the countries of northern europe but penalizes those of the south. is the european union going to fall apart would gross return and reverse the trend. is for it hook i've heard at least 2 kwara go. video that you form at the police officers that downloaded off it was also when it's going off it said on the nanny who are who are in class ask him why and said condit had to do pull saw or that you saw that it looked at the preuss don't see maggi name go i think across off of our head you elected office and i've explored all across all of us on the docket don't so much but i must point because if you know suppose go on. ski fulfill all of us the phone

says give for when you want within the sleaze put dubious going to get it but i don't suppose company did go over an illiterate in that sleazy focus. this was on paul saul so as to do it all more until devean got it did you know the 2 gay bawly gleg siebold isn't nomen to skew their asses on votes on sil book oh no it's a dude little hope gandhi said the new food lepage if you need there's a limit. to have a monetary union work effectively. what happens is that the more efficient regions or in the case of the eurozone countries become even more efficient and wealthier the poorer regions or less efficient regions become poorer and less efficient. italy south was industrializing until the

country unified and in the in the $860.00 s. and seventy's and once that happened if you are an italian investor in the south why would you invest money in the south when you could earn more money by putting your savings in milan. or investing it in the north of italy so the south became steadily poorer so what are the italians have to do they had to get always and they still doing it had to send money to the south regularly not lend money but give grants. and in the old days they had the big gossip area metro draw the funds for southern italy which paid out tens of billions of dollars over a century i mean if the endless payments that have been needed the wealthier provinces have to send money to the poor provinces not lend money send it. but there is a catch the mustardy treaty stipulates that each country must manage its debt.

europe is far from being. and yet in 2012 for the 1st time the president of the european central bank the e.c.b. took action. the euro is irreversible. we will do whatever it takes we live in our mandate within our mandate to have a single monetary policy in your area in to maintain price the $1000000.00 euro area and to preserve the youth. i will tend to me do mr know who need just as you know pretty well and i am here polly lab and this you even hear it witty even exist apart the push to be did this or we did get skinny libby less or no more back toward the banks and high up in gesture to actually be there as an old

character as well as situational lifting or small maximum pocky precisely what i don't know even exist about ms you don't talk about high up in the details on her litany left one man to move on i don't want men to not have it see when it bad really matters if you know the dentist in atlanta if you're more on talk about otto up in jordan i said. what about simply writing off the debt. cancellation can be done to preserve the social order because we don't transform it most revolutions involve cancellation of drafts ironically german prosperity now is based on the cancellation of german that's after world war 2 it seems very ironic that the german public is absolutely unwilling to even renegotiate debts of countries like greece calling them that centers when in fact all that's were cancelled after world war 2 and it was that freedom. which actually made the german

economic boom. the recovery let it sit on the finance any one. because if it landed it dead goodbye let the head via a surrogate is ricky better you want that you're about the man all of us have a beard this was about one global act cruelly though so i thought maybe i will do my go to again is obvious what i said but he did i say good apples not as a hobby or said vance i was on the so my go divorce others will be added before i believe it was said swamp us on the so my it has we will check any gas have at it established ascii art it look it was well look it is having a dog who did it go poland and i did he last year so i vaguely ahd

a gap was good the 2nd was on people eat like they beat so heavily bad apples are about he was a member of let me get rid. of a known 6 and you still have to say i don't got what i put you be a leg i suppose and do not use all the legs as do have been present to as a good home for getting but he is going to use them physically like me but i have a you ilya didn't have to name list if you want to be public don't go to support i'm sick from all that i guess to serve defense are. good men best cure is you she . is wrong you don't fall over years from part of illusion are still to be in wont fonso is no you're not alone the exist is legalist incirlik is either one system she's just any i'll pass on about on and don't encode initial fiscal cliff out and take the consequence you know dimity the western pa care damage done is what he put it quote on the list personally as we know. the e.u.

has long been powerless against tax evasion switzerland austria and luxemburg have always championed bank secrecy the e.u. has taken action requiring increased transparency. if you know. what i thought of it you know what. that's where i'm at a few also someone. who for the world of the good is going to walk on they don't own a body don't teach to be. this she did love an illness your son is not for me domicile going on i don't know him or bottled. alone on the monitor that mischa all of newmont but it all does do no good so you're going to cause we mana will do the economy get him all extra more. to do the democrates receipt of you levy a clue if you don't like it peter does it clear to you nope and she said bouncing

off on it when elam is a real good on click on she has property there's no need to do up to do what you want to keep ability to learn i bet you don't do well so should you go to mr concrete is it to do so should. today date the economy and finance an ever present global reality we are all caught in the debt machine the debt its grip and its dictates have insinuated themselves into our work our relationships and our lives. only time will tell if we can actually afford this must a servant relationship today. london is one of the most important cities in the world and decisions made here have an impact right around the globe and so here at al-jazeera we will show you the true impact of those decisions on people and how it affects their everyday that. we are

free to put the want to air into really engage the stories because we know there are audiences interested not just the history but also the more you give the stories from parts of the world that often go under reported. for afghans with ties to international organizations. this rate has never been greater . left exposed by the withdrawal of foreign troops. may be the only path to fish to. a nation makes home feel ever find their way. part of the viewfinder asia series on al-jazeera. now it is spring even in arabia where you might think to be sunny warm all the time

which means changeable weather and it certainly is changing not so much in saudi arabia or beyond but just north of particularly jordan and i think syria and iraq you're going to have an increase in the amount of dust is being brought in because the wind is strengthening in the east inside libya and the northern part of egypt now beirut doesn't just get the dust but with that increase in wind you know it has 3 days of some sort of rain certainly the wind will be noticeable but the skies a lot to be overcast quite often and it will be wet and then it cools down and here's the bigger picture that arc of rain goes through syria and iraq joins up with what's happening in turkey which doesn't look particularly pleasant after say they're not strong on shore breeze means is never going to feel particularly good on the coast really from northern egypt right up to that southern coast of turkey breast the sand which is this brown here that sort of disperses never gets much further south temperature wise or given we're in juicy and southerly breeze it gets pretty hot in kuwait up to about 41 and 38 in doha these are both above our ridge

southern africa is also seeing a change in temperature not everywhere but look at cape town's 26 and then the forecast to 32. it's the political debate show that's challenging the way you think i want to know where you stand on cancer culture decreasing the range of ideas that can be heard from international politics to the global pandemic and everything in between if tech companies are the ones with all the power what do we do what's the solution we get organized and what are world leaders or governments missing thread talking about targets like 2040 we're trying to talk to right now up front with me marc lamont hill on al-jazeera.

al-jazeera. and. he's been are eternally detained and now we see that the process itself is not transparent. protest against china's to an aisle of consular access as a secret trial for espionage begins against one of its citizens. hello i'm adrian said again this is al-jazeera live from doha also coming up we're not through the worst of it potentially and that's why we need.